ACH Virtual Terminal

An ACH Virtual Terminal is a web-based hub that allows a person to securely accept single and/or recurring payments via ACH [echeck] or credit/debit card. A Virtual Terminal allows the management of Credit Card and ACH transactions, and provides originators with a secure, PA DSS certified, web browser software application for the transmission.

Transactions can be instant or scheduled, and scheduled transactions can be single future or recurring transactions. The Virtual Terminal can be utilized for transactions by organizations who have preexisting credit card merchant accounts. Most major back-end processors offer gateway communication, and payment data entry can be accomplished in a numerous ways (e.g. manual data entry, file upload or machine read). Additional hardware is available for machine read data entry for both ACH and credit card transactions.

An ACH Virtual Terminal is a web-based hub that allows a person to securely accept single and/or recurring payments via ACH [echeck] or credit/debit card. A Virtual Terminal allows the management of Credit Card and ACH transactions, and provides originators with a secure, PA DSS certified, web browser software application for the transmission.

Transactions can be instant or scheduled, and scheduled transactions can be single future or recurring transactions. The Virtual Terminal can be utilized for transactions by organizations who have preexisting credit card merchant accounts. Most major back-end processors offer gateway communication, and payment data entry can be accomplished in a numerous ways (e.g. manual data entry, file upload or machine read). Additional hardware is available for machine read data entry for both ACH and credit card transactions.

Credit card decline rates are on the rise. Average recurring credit card billing return rates are around 15%, while ACH payment processing return rates are typically less than 2%.

Banking checking/savings accounts don’t have expiration dates, making them considerably less susceptible to being closed or re-generated due to data theft. This makes ACH integration an ideal choice for recurring payments based applications.

ACH payments are widely accepted for payment facilitation by consumers/businesses.

Paper checks are burdensome. Checks are expensive to handle, susceptible to fraudulence, and simply don’t work for organizations/applications looking to accept payments from bank accounts. Beyond empowering a client’s software through API functionality, an ACH Payment Integration solution is a predictable, less expensive payment vehicle.

Unlike credit card transactions, which can be disputed and charged-back for numerous reasons, ACH transactions can only be disputed for three reasons:

The date that it was processed was incorrect.

The amount was incorrect.

The transaction was not authorized to be debited.

The Virtual Terminal can be utilized as a stand-alone tool for complete payment management.

The Virtual Terminal provides a suite of reports, including Returns, Deposit Reports, Origination Reports, Verification Reports and Scheduled Transactions. Reports can be viewed online, printed, saved or exported in a number of file formats. The Virtual Terminal’s hierarchy system allows reporting to be segregated. This allows user permissions to access only reporting data relevant to their level of hierarchy. The Virtual Terminal has the ability to transact both credit cards and e-checks, and report data comes from a single source even if using an already established credit card merchant account. This makes reconciliation in the accounting department more efficient.

ACH Decline Handling

In contrast to the credit card world there is no “authorization” component with ACH Processing. With credit cards you can ascertain in near real-time that the consumer has the requisite funds and that these funds have been set aside for your business.

ACH Processing is a batch environment where transactions are sent in bulk to the Federal Reserve to be processed. There is then a 48 time period in which the two banks, ODFI and RDFI sort out that the account being debited is in fact a viable bank account and confirming the debit in question has been successful [or not].

There can be ACH returns or declines. Example returns codes are below.

R01

Insufficient Funds

R02

Account Closed

R03

No Account/Unable to Locate Account

R04

Invalid Account #

R05

Unauthorized Corporate Debit to Consumer Account

R06

Returned per ODFI Request

R07

Authorization Revoked By Customer

So what can you do when you receive a return? First it’s very important to note that ACH decline rates [depending on industry] are typically between 1 and 3%. In the credit card world decline rates often average in the double digits due to lost, stolen or reissued [EMV chip cards]. In conjunction with significant savings on processing fees the much lower decline rates make ACH payment processing and absolute must for recurring payment billers.

Our Virtual Terminal allows automated resubmission of ACH transactions declined due to Non Sufficient Funds [NSF]. You can configure up to two retry attempts. An example strategy would be: “retry an NSF rejection on the next Friday am”. Many people are paid Friday mornings via ACH. ACH transactions take precedence over paper checks as well so your probability for a successful retry is improved.

At Security Networks, we use automation wherever possible to accurately and cost effectively run our business. Using ACH Payments within our software enables complete automation of the payment process. Reconciliation is made easy and payment exceptions are handled as well. If you want to devote your time and energies to growing your business, you should use them as well.

Customer billing can be one of the most time consuming, energy draining tasks a business has to perform. Since integrating the ACH Payments solutions into our software, we have been able to automate a time and labor sensitive process.

The best part about ACH Payments is how much time and energy it saves me each month. The ability to schedule monthly automatic electronic payments is definitely a sanity-saver.
Loveland Academy of Music

Customer billing can be one of the most time consuming, energy draining tasks a business has to perform. Since integrating the ACH Payments solutions into our software, we have been able to automate a time and labor sensitive process.

At Security Networks, we use automation wherever possible to accurately and cost effectively run our business. Using ACH Payments within our software enables complete automation of the payment process. Reconciliation is made easy and payment exceptions are handled as well. If you want to devote your time and energies to growing your business, you should use them as well.

We've been doing our ACH and credit card processing with ACH Payments for years. The thing I like best about the payment processing is that it’s all automated. You send a batch of ACH and credit cards and you get a file back that automatically posts all of the approved transactions directly to the customer’s account. Look ma, no hands! This is the best thing since sliced bread for the security industry as far as automating your back office goes.

The team at ACH Payments has been a breath of fresh air. They have gone beyond the boundaries of their core expertise and provided us with ideas and solutions towards success. I highly recommend discussing your needs with ACH Payments.

About ACH Payments

ACH Payments has been providing e-telligent ACH payment processing solutions to thousands of businesses of all sizes for over 10 years. No matter what type of business circumstances or business environment are encountered, ACH Payments is always committed to meeting or exceeding the needs of our clients.

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